Turkish merchant bar export prices trend up amid higher energy costs

A few Turkish merchant bar re-rollers have raised their prices by $10/mt to $610-620/mt FOB compared to March 11, for April shipment, as most buyers are still refraining from new purchases due to the war in the Middle East. In addition, a few merchant bar re-rollers have set their merchant bar export prices slightly above $620/mt FOB and some are even testing $630/mt FOB due to higher energy and production costs. However, $630/mt FOB so far seem a bit high under the current market conditions.

Meanwhile, the SteelOrbis Turkish import billet daily reference price stands at $470-510/mt CFR, stable over the same period.

All prices are on FOB basis and for April shipment.